India VIX closed with 0.68% cut at 14.58 level - Monarch Networth Capital
TECHNICAL OUTLOOK
* Benchmark index traded with negative bias yesterday before closing with 0.35% cut at 21665 level. Banking index lagged the benchmark index as it closed with 0.98% cut at 47761 level.
* India VIX closed with 0.68% cut at 14.58 level.
* Among Sectors NIFTYPHARMA index performed better than the benchmark index as it closed with 2.46% gain while NIFTYAUTO index underperformed as it closed with 1.37% cut.
* Broader market performed better than the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.08% and 0.03% cut respectively.
* Advance/Decline ratio was in favour of declines and cash turnover was higher than 5-day average. FII were net buyers while DII were net sellers in the cash segment.
* European markets (DAX) and US markets (DJIA) closed with minor gain yesterday. However, Asian Markets are largely trading lower today.
Intraday Market Outlook
* Benchmark index is likely to trade open lower following unfavourable global cues and trade volatile today. Index has support at 21500 - 21450 level and resistance at 21750 – 21800 level.
* Banking index is likely to trade in line with benchmark index today with support at 47400 - 47200 level and resistance at 48000 - 48200 level.
* CIPLA has closed with bullish candlestick and it is likely to trade with positive bias today.
NIFTY (Daily) Chart
BANK NIFTY (Daily) Chart
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